World stocks mostly rise on global growth optimism

Since late last week, investors have digested a raft of positive news from major economies: additional monetary stimulus in Europe, a solid U.S. jobs report for May, stronger first quarter growth in Japan and an improvement in China's exports.

Indications that the U.S. economy is on a roll this quarter after a bumpy start to the year have helped push American stock benchmarks higher for the past month.

European shares were mostly higher in early trading. Germany's DAX advanced 0.2 percent to 10,030.93, after a record close the previous day. The CAC-40 in France added 0.2 percent to 4,596.63. But Britain's FTSE 100 fell 0.4 percent to 6,845.84.

Hiroki Ihara, head of research at Phillip Securities in Tokyo, said share prices had entered a temporary adjustment phase but had room to rise, especially if foreign players join in greater numbers.

"Today the yen rose slightly and so prices degenerated during the day," he said. "But compared to global stocks, there is still a sense that Japanese shares are lagging behind." The Nikkei is down 11 percent over the past 12 months compared with gains for most other Asian benchmarks.

He foresees the index testing the 15,000 level again in coming sessions. A weak yen is a plus for Japan Inc. because it boosts the earnings of the nation's giant exporters.

The dollar fell to 102.34 yen from 102.51 yen late Monday. The euro dropped to $1.3559 from $1.3595.

In energy trading, benchmark U.S. crude for July delivery added 20 cents to $104.61 a barrel in electronic trading on the New York Mercantile Exchange. The contract gained $1.75 to close at $104.41 on Monday.